Newtowne Mortgage, LLC Mortgage Lending & HMDA Data, 2019
In 2019, Newtowne Mortgage, LLC of Suffolk, VA reported 913 mortgage applications totaling $255.3 million, about the same as 2018. The average application was for $279,676, and applicants reported an average income of $119,672. 83% of its applications resulted in an originated loan and 2% were denied. Its largest markets were Virginia Beach-Norfolk-Newport News, VA-NC (861), Richmond, VA (22) and Washington-Arlington-Alexandria, DC-VA-MD-WV (5) (applications in parentheses).
| Mortgage Company & Address | Newtowne Mortgage, LLC 600 22nd Street Suite 301 Suffolk, VA 23451 Tel #: available with data download |
| Federal Regulator | * available with data download |
| Years | 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 |
| Total Number of Mortgage Applications | 913 |
| Total Mortgage Loan Application Amount | $255,345,000 |
| Average Mortgage Loan Application Amount | $279,676 |
| Highest Mortgage Loan Application Amount | $3,445,000 |
| Average Applicant Income | $119,672 |
| Highest Applicant Income | $3,129,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Newtowne Mortgage, LLC filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
Mortgage Loan Application Detail Totals for Newtowne Mortgage, LLC in 2019
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Home Purchase | 768 | $201,400,000 | $262,000 | $1,695,000 | $109,000 | $1,153,000 |
| Refinancing | 87 | $36,625,000 | $420,000 | $3,445,000 | $203,000 | $3,129,000 |
| Cash-out Refinancing | 58 | $17,320,000 | $298,000 | $1,155,000 | $136,000 | $504,000 |
| Home Improvement | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
| Other Purpose | 0 | $0 | $0 | $0 | $0 | $0 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| White | 681 | $200,595,000 | $294,000 | $3,445,000 | $124,000 | $3,129,000 |
| Black or African American | 134 | $29,460,000 | $219,000 | $2,425,000 | $93,000 | $584,000 |
| Hispanic | 38 | $8,980,000 | $236,000 | $485,000 | $91,000 | $394,000 |
| Asian | 31 | $9,265,000 | $298,000 | $895,000 | $149,000 | $443,000 |
| Not Provided | 23 | $5,515,000 | $239,000 | $595,000 | $78,000 | $175,000 |
| American Indian or Alaskan Native | 5 | $1,335,000 | $267,000 | $415,000 | $171,000 | $389,000 |
| Native Hawaiian or Other Pacific Islander | 1 | $195,000 | $195,000 | $195,000 | $51,000 | $51,000 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 561 | $159,745,000 | $284,000 | $3,445,000 | $134,000 | $3,129,000 |
| VA-guaranteed (Veterans Administration) | 208 | $65,590,000 | $315,000 | $645,000 | $108,000 | $1,153,000 |
| FHA-insured (Federal Housing Administration) | 136 | $28,450,000 | $209,000 | $465,000 | $70,000 | $192,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 8 | $1,560,000 | $195,000 | $305,000 | $60,000 | $79,000 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Originated | 755 | $211,955,000 | $280,000 | $3,445,000 | $118,000 | $3,129,000 |
| Application Withdrawn By Applicant | 118 | $31,920,000 | $270,000 | $1,325,000 | $123,000 | $639,000 |
| File Closed For Incompleteness | 20 | $5,900,000 | $295,000 | $835,000 | $139,000 | $397,000 |
| Application Denied By Financial Institution | 15 | $4,835,000 | $322,000 | $1,005,000 | $77,000 | $214,000 |
| Application Approved But Not Accepted | 5 | $735,000 | $147,000 | $245,000 | $67,000 | $84,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Not applicable | 898 | $250,510,000 | $278,000 | $3,445,000 | $119,000 | $3,129,000 |
| Debt-To-Income Ratio | 6 | $1,970,000 | $328,000 | $895,000 | $71,000 | $214,000 |
| Collateral | 2 | $480,000 | $240,000 | $285,000 | $99,000 | $108,000 |
| Other | 2 | $150,000 | $75,000 | $145,000 | $73,000 | $89,000 |
| Credit History | 2 | $710,000 | $355,000 | $555,000 | $83,000 | $126,000 |
| Unverifiable Information | 1 | $1,005,000 | $1,005,000 | $1,005,000 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 1 | $265,000 | $265,000 | $265,000 | $61,000 | $61,000 |
| Credit Application Incomplete | 1 | $255,000 | $255,000 | $255,000 | $81,000 | $81,000 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Newtowne Mortgage, LLC's 2019 lending activity. By analyzing detailed data on mortgage applications, total loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can gain a clear understanding of this lender's role in the mortgage market.
This in-depth HMDA data allows real estate experts, financial analysts, and policymakers to track lending trends, evaluate borrower demographics,
and assess Newtowne Mortgage, LLC's mortgage approval patterns.
Utilize this powerful dataset to analyze market performance, compare lending practices, and make data-driven decisions in the ever-changing mortgage industry.
For a list of all lenders in Virginia, download the full spreadsheet
with aggregated HMDA statistics today.
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